Jake Banks | 26 Apr 2019

NetEnt to Go Live With DraftKingsNetEnt has entered into a calculated agreement with DraftKings in an effort to enhance growth for the company in the New Jersey online gambling scene. This deal will assist both parties in their efforts to put down some roots in one of the few American states where it has recently become legal to bet and play real money games on the Internet.

The supplier is set to launch a wide selection of the most popular online casino games in its portfolio in New Jersey with DraftKings, and content will be rolled out over the coming weeks. This news is hot on the heels of reports that NetEnt has managed to secure a permanent license from the Division of Gaming Enforcement for New Jersey.

Erik Nyman Has His Say

Managing Director of NetEnt Americas LLC Erik Nyman released a statement that said that his company is thrilled to be working with an organization that had established itself as one of the premium operators in Fantasy Sports. He also acknowledged the brand’s huge player base and said that they would be able to add a new dimension to their existing market since he is positive that American players will love the games they will soon be able to start enjoying.

DraftKings entered the New Jersey gambling market in August 2018 after launching the first sports betting application after online wagering became legal. This digital operation took the fast track to become a presiding force in the newly regulated market, and they followed up by debuting an online casino in December last year.

A Drop in First Quarter Revenue

Alongside the unveiling of its new partnership, NetEnt also reported its financials for the first quarter of 2019. Revenue has declined by almost 3% to 418 million SEK, or just over $43 million.

This drop has been attributed to its domestic market, with Therese Hillman, Chief Executive Officer, saying that almost the entire slowdown was accounted for by Nordics. She stated that the re-organization of the market earlier on in 2019 was the main reason for the lower volumes in Sweden.

Hillman further commented on the change, saying that the new gambling laws had impacted customers and players in unforeseen ways. The combined effect of a lower-average-per-user and the fewer players overall has lead to a weak start in the newly regulated market, but Hillman is confident that things will settle soon.